Podcast
Questions and Answers
Why are Canadians using cash less?
Why are Canadians using cash less?
- Out of convenience and ease of carrying credit cards (correct)
- Because they have less money
- Due to the increase in the use of credit cards
- Because the Bank of Canada is discouraging the use of cash
Why does an increase in the use of credit result in an increase in the money supply?
Why does an increase in the use of credit result in an increase in the money supply?
- Because it leads to a decrease in the money supply
- Because credit transactions directly increase the physical currency in circulation
- As a result of government fiscal policies
- Due to the impact of fractional reserve banking system (correct)
Does the Bank of Canada have complete control over the money supply?
Does the Bank of Canada have complete control over the money supply?
- No, it has no influence on the money supply
- Yes, it has complete control over the money supply
- It has partial control over the money supply (correct)
- Only under specific economic conditions does it have control
How does the Bank of Canada influence the ability of chartered banks to make loans through its open market operations?
How does the Bank of Canada influence the ability of chartered banks to make loans through its open market operations?
What is the effect on chartered banks if the secondary reserve requirements have not changed for some time?
What is the effect on chartered banks if the secondary reserve requirements have not changed for some time?
What technology has contributed to the growing popularity of contactless cards and near-field communication (NFC) for transactions?
What technology has contributed to the growing popularity of contactless cards and near-field communication (NFC) for transactions?
In which form are digital checks processed, indicating the transition from paper checks?
In which form are digital checks processed, indicating the transition from paper checks?
Which type of payments involve the use of apps like Apple Pay, Google Pay, and Samsung Pay?
Which type of payments involve the use of apps like Apple Pay, Google Pay, and Samsung Pay?
What has contributed to the rise in the use of cryptocurrencies for certain transactions?
What has contributed to the rise in the use of cryptocurrencies for certain transactions?
Which technology supports direct transfers between bank accounts without physical cash?
Which technology supports direct transfers between bank accounts without physical cash?
What type of cards have widespread use for in-store and online transactions?
What type of cards have widespread use for in-store and online transactions?
Which platform provides P2P services for quick and convenient fund transfers?
Which platform provides P2P services for quick and convenient fund transfers?
What has contributed to the increased usage of prepaid cards for specific transactions without the need for physical cash?
What has contributed to the increased usage of prepaid cards for specific transactions without the need for physical cash?
Which form of payments involve direct transfers between bank accounts without physical cash?
Which form of payments involve direct transfers between bank accounts without physical cash?
What technology has enhanced security features for card transactions, contributing to the widespread use of credit and debit cards for both in-store and online transactions?
What technology has enhanced security features for card transactions, contributing to the widespread use of credit and debit cards for both in-store and online transactions?
